AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- AUD/USD remains bullish above $0.6809, with key resistance at $0.6868 and $0.6888.

- 50-day EMA at $0.6749 provides strong support for the ongoing uptrend.

- RSI at 66 indicates approaching overbought territory, but momentum remains positive for now.

The AUD/USD pair is trading at $0.6872, up 0.83%, signaling bullish momentum as it moves above key technical levels. Immediate resistance lies at $0.6845, with further resistance targets at $0.6868 and $0.6888. On the downside, immediate support is found at $0.6784, followed by deeper supports at $0.6750 and $0.6725.

The 50-day Exponential Moving Average (EMA) at $0.6749 is providing solid support, indicating that the current upward trend remains intact. The Relative Strength Index (RSI) sits at 66, suggesting the market is nearing overbought conditions, but still leaves room for further gains.

A break above $0.6868 would confirm the bullish trend, targeting the next resistance at $0.6888. However, if the pair falls below $0.6784, it could trigger a shift toward a more bearish outlook, testing the $0.6750 support level.

With China being a key trading partner for Australia, any news regarding China's economic performance or trade relations will likely influence the next move for AUD/USD. Additionally, the U.S. dollar’s performance following the Federal Reserve’s recent interest rate decisions will play a critical role in the pair’s trajectory.

In summary, AUD/USD shows strong bullish signals but faces immediate resistance. Traders should watch for a breakout above $0.6868 to confirm further upward momentum.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.68086

Take Profit – 0.68511

Stop Loss – 0.67830

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$425/ -$256

Profit & Loss Per Mini Lot = +$42/ -$25